AstraZeneca acquisition of Alexion gets UK regulation nod

The UK Competition and Markets Authority has cleared AstraZeneca’s $39 billion (€33 billion) proposed acquisition of Alexion Pharmaceuticals, with the deal now expected to close sometime next week.

The merger is set to strengthen AstraZeneca’s range of cancer medicines, the drugmaker said.

The competition authority began a review of the deal in May to see if that could reduce competition in the UK or other markets.

Read more: UK regulators to review AstraZeneca's €32bn Alexion buyout

It decided not to initiate a broader probe into the deal following its initial assessment. The clearance follows that from the EU earlier this month.

"We are very pleased to have secured this critical final clearance," said finance chief Marc Dunoyer.

A management shake-up at AstraZeneca following the completion of the merger is expected.

The drugmaker had said it would move Dunoyer to head Alexion, while Aradhana Sarin will move in the opposite direction to be AstraZeneca's finance head. 

The drugmaker said it plans to give an updated 2021 outlook for the combined company "in due course".

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